Diageo has confirmed that discussions with India's UB Group are ongoing.

Press reports out of India earlier this week have claimed that talks between the two are approaching the final stages. Diageo is looking to acquire a 15% stake in UB's United Spirits division, according to some newspapers in the country, with the two sides meeting in New York today (28 January).

When contacted by just-drinks, a spokesperson for Diageo said: "There are discussions between Diageo and United Spirits but these discussions have not yet identified a structure which is acceptable to both parties.

"The discussions will continue but, as we have said previously, there is no certainty that they will result in a transaction between the two companies."

In November, United Spirits' president, Vijay Rekhi, told just-drinks that the two companies had opened talks. "We have begun an exploratory dialogue with Diageo to identify partnership opportunities," Rekhi said. "We have entered into exclusive discussions with Diageo for a limited period," declining to specify when the limited period is set to end.